Olympus faces challenge in China's endoscope market from local companies

TOKYO -- Olympus is facing growing competition in the endoscope market in China, CEO Stefan Kaufmann said during a recent media roundtable at which the German executive set out ways to globalize the Japanese medical device maker.

"We do see a lot of local competition increasing," said Kaufmann of the Chinese market. The company still enjoys an 85% share of endoscopes used for gastrointestinal examination, ahead of a 70% share globally. The instruments are used to look inside the body through a flexible optical tube.